What Board members are doing about fraud risk

http://www.cgma.org/magazine/news/pages/201411058.aspx A survey indicates Board members are reaching out beyond the executive level, having more discussions about tone at the top and insider trading controls. Also read to see what they are saying about their understanding of risk appetite.

Fraud reporting per 2014 survey

http://www.complianceweek.com/blogs/the-filing-cabinet/report-fraud-and-retaliation-on-the-rise#.VCrkXvldXDZ Fraud and retaliation against whistleblowers who report the fraud is increasing according to the 2014 Compliance Report compiled by The Network. This is an all-time high since the first report in 2005. Mobile reporting applications are a way this is being reported.

Fair value deficiencies and auditors

http://www.accountingtoday.com/news/auditing/fair-value-audit-deficiencies-remain-high-at-firms-72141-1.html This area of fair value merits continued attention by auditors to the assessment of risks and internal controls

Going concern evaluation per PCAOB

http://www.journalofaccountancy.com/News/201410985.htm Changes in GAAP have not altered the responsibilities of the auditor in going concern evaluation and communications. The explanatory paragraph may still be a necessity in the audit report. This is to distinguish between the management's responsibility for disclosure and the auditor's responsibility

SEC to pay whisleblower award

http://www.journalofaccountancy.com/News/201410983.htm $30 million award is twice the previous record amount

Chartered Institute of Internal Auditors

http://auditandrisk.org.uk/magazine This is the magazine published by the Chartered Institute of Internal Auditors

Andrew Madoff passes away at age 48

http://www.washingtonpost.com/national/andrew-h-madoff-son-of-convicted-financier-dies-at-48/2014/09/03/49c10da4-0e81-11e4-b8e5-d0de80767fc2_story.html The only remaining son of Bernie Madoff died Sep 3, 2014.